Market Analysis for TESCO Essay Example | Topics and Well Written Essays - 3000 words

Market Analysis for TESCO - Essay ExampleThat was exactly the case with Tesco having over 450,000 employees and over 3,200 stores today. A very humble beginning in 1919 when tar Cohen began this journey gradually transformed the fortunes.Strong Government support It was the state patronage which encouraged the promoters of Tesco to plan for future. Not many hurdles were created by the semipolitical class. In fact Tesco also kept the ruling class in good humor by taking politically correct steps from era to time.Minimal competition during those early days Those were the golden days when Tesco came out with its first branded tea in 1924, not many competitors were around and foothold alike cut-throat competition were not even introduced.Satisfied customer Grabbing customer attention is not a big deal but retaining customer loyalty requires gravid thinking at the top. A satisfied customer often takes pride in becoming a goodwill ambassador for the company. Tesco team says1, Our cor e routine is to create value for customers to earn their lifetime loyalty. By all accounts it can be said that they are indeed working, quite successfully, towards that.Reigns in the hands of qualified management and shrewd strategists It is said that Winners dont do different things, they do things differently. This statement gives full credit to strategists of successful enterprises. Strategic decisions provide a direction in which the face is to move. Organisations mission and objectives find a reflection of strategists. Tesco has a long term strategy for branch, based on four key parts growth in the Core UK, to expand by growing internationally, to be as strong in non-food as in food and to follow customers into new retail services. Committed workforce Organisations are not passive components. They are live, full of activity and environment-responsive like living beings. With time organisations acquire a character and break dance a typical personality and we tend to make an image of the employee depending on the organisation he/ she works for. This very personality of the organisation considerably influences the functions of organisation in the long run.Reasonably good industrial relations Keeping the workforce in good humour by providing them with adequate benefits and considering them as an internal part of the organisation helps in resolving the disputes quickly.Good investor relations This becomes all the more important when general public has a stake in any. later becoming Tesco PLC from Tesco Stores (Holdings) in 1983, Tesco became a public company and it has been sharing good amount of its profits with investors.Understanding the environment Continuously monitoring the environment and spare-time activity the leads is the key to a successful business. Continuously studying the different aspects of environment (social, political, legal, technological, etc) and taking corrective and adaptive steps accordingly helps in growing of an organisation . Tesco started computerised check-out counters as early as 1982 and this stride continued with opening of www.tesco.com and its online operations. On the societal front Tesco states, One of our most important values is to treat people how we would like to be treated.2 With this in mind Tesco makes a